Ionis Pharma Hits New High as Analyst Sees Blockbuster Potential for Olezarsen.

Ionis Pharmaceuticals (IONS) hit a new all-time high after BMO Capital raised its price target to $70 from $40 and upgraded the stock to "outperform" on the potential for its drug candidate, Olezarsen, to become a blockbuster. The company announced promising clinical trial results for Olezarsen, showing it lowered blood fat by up to 72% and pancreas attacks by 85% compared to the placebo group. The stock soared to a new high of $62.08 before trimming gains to end the day up 5.22% at $60.49.

Ionis Pharmaceuticals (IONS) stock surged to a new all-time high following BMO Capital's upgrade of the stock to "outperform" and a price target increase to $70 from $40. The move was driven by the company's positive clinical trial results for its drug candidate, Olezarsen, which demonstrated significant reductions in blood fat and acute pancreatitis events.

The CORE and CORE2 studies, two pivotal Phase 3 trials, showed that Olezarsen lowered fasting triglycerides by up to 72% and reduced acute pancreatitis events by 85% compared to placebo. The trials involved nearly 1,100 patients with severe hypertriglyceridemia (sHTG) who were required to be on standard of care lipid-lowering therapy throughout the treatment period. The results were highly statistically significant, with p-values of less than 0.0001 for both studies.

Ionis Pharmaceuticals, Inc. (IONS) plans to submit a supplemental new drug application (sNDA) to the U.S. Food and Drug Administration by the end of the year. The company's CEO, Brett P. Monia, Ph.D., stated, "Building on our success in familial chylomicronemia syndrome, the exceptional CORE and CORE2 results position Ionis to set a new treatment standard for the many people with sHTG who are at risk of debilitating acute pancreatitis attacks."

The stock soared to a new high of $62.08 before trimming gains to end the day up 5.22% at $60.49. The positive results from the CORE and CORE2 studies have investors optimistic about the potential for Olezarsen to become a blockbuster drug, potentially transforming the treatment paradigm for severe hypertriglyceridemia.

References:
[1] https://ir.ionis.com/news-releases/news-release-details/olezarsen-significantly-reduces-triglycerides-and-acute